eCommerce

eBay To Expand Payment Options In The UK

eBay

Online marketplace eBay has announced that it’s going to expand its “management of payments” to the United Kingdom, which will mean more payment options for customers, according to a release.

The move is meant to give buyers more flexibility in how they pay, as well as provide sellers an easier way to control their businesses.

This is the third market where eBay is introducing this new payment experience, following the U.S. and Germany.

“We’re creating a modern managed marketplace. Taking control of the payments process on our platform is a key component of our strategy to enhance the eBay experience by breaking down barriers and removing complexities for our customers,” said eBay VP of Global Payments Alyssa Cutright. “We’ve seen great success in the U.S. and Germany and we’re thrilled to expand to the U.K.” 

The plan is to let buyers in the U.K. get a choice of payment options that include a credit or debit card, PayPal, Google Pay and Apple Pay when using an iPhone or iPad.

“By starting to manage payments in the U.K. this year, we’re taking another step to deliver improvements for our customers,” said VP of eBay U.K. Rob Hattrell. “We know that sellers and buyers expect smooth and seamless transactions, and this new payments experience is designed to offer exactly that. In the coming months, we will make the transition as smooth as possible for sellers so they can take advantage of this important update quickly.” 

The online marketplace started managing payments on its U.S. site in September of 2018, and then expanded the program to Germany a year later. 

“The company continues to make tremendous progress with its managed payments, having processed more than $2 billion in GMV for almost 25,000 sellers, and saving sellers almost $10 million as of the end of Q4 2019,” the release said. “Later this year, the company will continue its global expansion and expects to have transitioned a majority of its U.K. business sellers by the end of 2020 and a majority of its marketplace customers in 2021.

——————————

LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

TRENDING RIGHT NOW